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Section 121 - Sale of separately owned homes
I owned a home while single since 2010.
My (now) wife owned a home while single since 2015 (both meet section 121 ownership and residence requirements).
We married in 2023.
Also in 2023, she sold her home, we field jointly (the gain was less than $250k).
In 2024, I sold my home (gain is also less than $250k).
Are we able to file jointly and use the Section 121 exclusion in 2024 because the properties were separately owned?
Topics:
March 10, 2025
9:10 AM